How Do You Ease The Pressure Of Debt? – Elf Knows It [ARCHIVED]
In most peoples lives, there will be some situations where money will get tight and you’re left with bills to pay/debt to pay off. What’s the best way to go about it?
The most simple and effective way to clear debt and ease the pressure is to use a pyramid style payment set-up. You start with the lowest debt at the top, and work your way down filling in the pyramid to the largest debt at the bottom. Then you start payments from the top. Clearing the smallest debt first. Then working your way down.
There are also some other things to ease the pressure. Cancel any subscriptions/payments you don’t really need. Do you really need to keep the weekly subscription to NOW magazine?
Any small change, even pennies you may find, throw them at the top of the pyramid, soon you will see how the pyramid will begin to fall and money will start to feel alot less tight.
The main thing to remember is don’t spend money on things you don’t need in a time like this!, Them gadgets and new games can wait until you know you don’t need the money!